We also are told inflation is low and the Illinois economy is growing, so revenue would be up over 45 percent in 2015 over 2010. Then why the need for drastic cuts?

Did the SJ-R or Moody’s consider the damage that is done to the Illinois economy by taking $7 billion from individuals, families and businesses each year? Did they consider the multiplier effect of $7 billion flowing through the economy? Did they compare the economic results to states with lower taxes?

Did the SJ-R or Moody’s consider that in the future businesses will locate in lower-cost states instead of Illinois and the harm that causes? It appears that the SJ-R’s and Moody’s economic theory is that incompetent states that overspend and overborrow should solve their problems by raising taxes.

Illinois and the federal government go from crisis to crisis, and the solution is always to take more money from the private sector and give it to them.

I am sure Quinn, Madigan, the SJ-R and Moody’s will provide a comprehensive list of all the states, cities and countries that spent, borrowed, regulated and taxed their way to prosperity.